Toyota LG Battery Deal
Toyota has signed a $3 billion battery supply deal with LG in the US. LG will invest in its Michigan plant to supply Toyota with batteries for electric cars, starting from 2025. The deal is driven by the US Inflation Reduction Act and LG will provide nickel, cobalt, manganese, and alluvium puck-type cells. The batteries will be used in electric Toyotas assembled in the US, with the aim of producing 30 electric vehicles by 2030.
2023-10-08 11:03